Govt prepared to sell 15-20% stake post AI-Indian merger

Chennai: The government is prepared to sell 15 to 20 per cent stake in the resultant entity after the merger of Air India and Indian was completed, a top government official said on Friday.
"We are prepared to sell 15 to 20 per cent stake. The government will decide the timing. After the merger process, underway now, reached some kind of maturity, the value the shareholder will realise will be much greater," Air India Chairman and Managing Director V Thulasidas said in Chennai after the 59th AGM of Aeronautical Society of India.
"We would like to give the prospective shareholder much higher value than what they get at present. Once the processes that are underway and our plans to join the Star Alliance are complete, the value will be much higher."
However, the Airline proposes to offer stake to employees without waiting for the IPO. "We will give stock options to the employees," Thulasidas said.
02/02/08 Press Trust of India/NDTV.com

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Categories: Air India - International Feb 2008, Air India Budget Feb 2008, Air India Domestic Feb 2008, Air India Regional Feb 2008, NACIL Feb 2008